London has been battered by 50mph winds that have felled trees and caused travel chaos. Powerful gusts swept across the capital as the Met Office issued a yellow "be aware" weather alert for most of the country.

Future crashes to £30 million loss and will breach covenants

Magazines publisher Future today crashed to a £30 million half-year loss and is selling its sport and craft titles as the group admitted it will breach bank covenants on its debt.

New chief executive Zillah Byng-Maddick said the banks were “very supportive” and Future will be able to renegotiate its debts after the sell-off later in the summer.

Accountants PwC warned of a “material uncertainty” over the group’s ability to continue as a going concern until then.

Radio Times publisher Immediate Media is paying £24 million for the sport and craft titles, which include Procycling and Mollie Makes.

Future investors were relieved, sending the shares up 16%.

Byng-Maddick plans to simplify operations and cut 130 jobs. Future has a reputation as an innovative publisher of apps and websites but she found “back-office systems and ways of working have not been standardised”.